Stock Market & Financial Investment News

Ortho-Clinical Diagnostics, Astute Medical to develope acute kidney injury testsOrtho-Clinical Diagnostics announced it has entered into a strategic partnership with Astute Medical, under which OCD will become the exclusive commercial partner for the distribution of Astute’s NEPHROCHECK Test and ASTUTE140 Meter in certain markets in Europe and, pending FDA clearance, the United States. On June 30, OCD became an independent, stand-alone diagnostics company with a renewed commitment to expand market reach with differentiated platforms and menus to better serve lab customers. Under the agreement, OCD also receives a semi-exclusive license to develop, manufacture and sell the NEPHROCHECK Test for use on its VITROS line of automated, high-volume testing platforms. In addition, as part of this strategic agreement, OCD has made a $15M equity investment in Astute Medical. Astute will be responsible for manufacturing the Astute NEPHROCHECK Test for use on the ASTUTE140 Meter in all markets and will collaborate with OCD on the sale of the NEPHROCHECK Test.

Carlyle, Cap Gemini talks to buy CSC have 'fizzled,' Reuters saysConsulting company Cap Gemini and private equity firm Carlyle Group (CG) previously held talks about a potential acquisition of Computer Sciences Corp. (CSC), though the talks have since "fizzled," reported Reuters, citing people familiar with the matter. CSC is now working with Royal Bank of Canada (RY) to review its options, the report added. Reference Link

Carlyle Group upgraded to Buy from Neutral at CitigroupCitigroup upgraded Carlyle Group to Buy saying it believes the company is entering a "robust" harvesting cycle. Citi says Carlyle is at a favorable inflection point and raised its price target for the stock to $32 from $30.50.